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Business Model Innovation

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A special issue of Journal of Open Innovation: Technology, Market, and Complexity (ISSN 2199-8531).

Deadline for manuscript submissions: closed (15 June 2021) | Viewed by 98824

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Prof. Dr. Taewon Suh

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Guest Editor

Sam Barshop Excellence Professor of Entrepreneurship, McCoy College of Business, Texas State University, San Marcos, TX 78666, USA
Interests: entrepreneurial marketing; international entrepreneurship; international marketing; business model innovation; trust

Special Issue Information

Dear Colleagues,

The capability to innovate business models has become an essential part in the success of many firms. Business model innovation, which links business aspirations with business platforms through which success can be realized, has now become one of the most vibrant fields in the area of business research.

Business model innovation is fast-becoming a mainstream concept because the construct of a business model is useful in both the research and practice of strategy, technology management, and e-commerce. This Special Issue aims to explore the breadth and depth of business model innovation and extend its conceptual territory. Various perspectives in both research and practice are valued for this purpose.

Researchers, academicians, practitioners, entrepreneurs, policymakers and other stakeholders are welcome to submit their original manuscripts to this Special Issue on “Business Model Innovation (BMI)” in the Journal of Open Innovation: Technology, Market, and Complexity.

Prof. Dr. Taewon Suh
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Open Innovation: Technology, Market, and Complexity is an international peer-reviewed open access quarterly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

Theorizing the cognitive process of BMI
Performance management of BMI
Development of tools for BMI
BMI practices in different countries
Emerging technologies and BMI
Strategic development of BMI
BMI in hybrid organizations

Published Papers (13 papers)

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Research

20 pages, 3274 KiB

Open AccessArticle

System Dynamic and Simulation of Business Model Innovation in Digital Companies: An Open Innovation Approach

by Rivira Yuana, Eko Agus Prasetio, Rizal Syarief, Yandra Arkeman and Arif Imam Suroso

J. Open Innov. Technol. Mark. Complex. 2021, 7(4), 219; https://doi.org/10.3390/joitmc7040219 - 01 Nov 2021

Cited by 15 | Viewed by 4092

Abstract

Digital companies must improve their business models evolutionarily and innovatively. Therefore, IT investment, especially for revitalizing digital capabilities for operational changes, is important. Most companies are looking to source innovation from outside organizations. Partnership assessment is a crucial problem since it is not easy to integrate internal and external capabilities. The study aims to define business model innovation based on system dynamics with partnership scenarios. Open innovation is needed to evolve to meet market expansion. Partnership and IP strategies are discussed. System Dynamics modeling is utilized to map a system structure to capture its behavior and the relationships between elements, creating a simulation over time. The study develops a BMI to show how OI variables significantly contribute to the engine of growth for digital companies. The simulation reveals that OI has a significant effect on the company’s performance, indicated by significantly growing revenue after two years. At the early stage, patenting IP is not practical since the companies involved are unclear about the detailed IP. The IP success or the partner failure rate does not affect revenue significantly. After two years, companies sharing IP find the best way to benefit from it and lead to sustainable growth. Full article

(This article belongs to the Special Issue Business Model Innovation)

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32 pages, 1114 KiB

Open AccessArticle

Evolution of the Business Model: Arriving at Open Business Model Dynamics

by María Camila Romero, Paola Lara and Jorge Villalobos

J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 86; https://doi.org/10.3390/joitmc7010086 - 05 Mar 2021

Cited by 9 | Viewed by 4931

Abstract

The business is an abstraction of the way in which value is created and delivered. The concrete representation is the business model, expressed by a group of artifacts built with different languages. It serves to describe, explain, analyze, design, and evaluate the business. The set of concepts, construction rules, artifacts, and languages required to express it, are defined by a Meta-Business Model (MBM). Multiple authors have proposed different MBMs, each one with a specific motivation and objective. Some of these MBMs are widely recognized and have been applied in contexts like innovation and entrepreneurship. Due to new challenges, such as sustainability, being faced by businesses and given new ways of producing and delivering value, like the sharing economy, Novel Complex Businesses (NCBs) are emerging. NCBs are businesses characterized by circular structures made out of numerous inter-related components, and by creating value out of the product/service schema. While existing MBMs fulfill certain purposes, they do not have the expressiveness required to describe NCBs precisely enough to describe and analyze them. This paper introduces an MBM with the concepts, construction rules, and graphical notation needed to represent NCBs. We also illustrate an NCB and present the results of the validation for our MBM. Full article

(This article belongs to the Special Issue Business Model Innovation)

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28 pages, 898 KiB

Open AccessArticle

Business Model Dynamics from Interaction with Open Innovation

by Montserrat Peñarroya-Farell and Francesc Miralles

J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 81; https://doi.org/10.3390/joitmc7010081 - 03 Mar 2021

Cited by 21 | Viewed by 4154

Abstract

In today’s competitive environment, firms face strong challenges. We live in a volatile, uncertain, complex and ambiguous (VUCA) environment where open innovation is a strategic choice and, on top of that, the COVID-19 pandemic has emphasized most of these disrupting forces. Incumbent companies must act strategically by adapting their business model to minimize the risk and to capture the new value that emerges. This article intends to contribute to the development of the nascent stream of research that seeks to understand the evolution of Business Models through time—known as Business Model Dynamics (BMD)—and explores how to better align this evolution to the implementation settings of strategy. This exploratory study is built upon a meta-synthesis approach to identify, analyze, and clarify how academics have dealt with the three terms used in the Business Model Dynamics research strand: Business Model Innovation, Business Model Adaptation, and Business Model Evolution. The results of the meta-synthesis show that a disambiguation of concepts is necessary as, from an organizational learning point of view, it is required to provide a better connection between strategic value appropriation and changes on Business Models. This article contributes to the researcher and practitioner’s literature on Business Model Dynamics offering a clear and rigorous definition of each term from a strategic point of view, thus preventing the conceptual incoherence and their reiterated wrong use as synonyms. Full article

(This article belongs to the Special Issue Business Model Innovation)

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Graphical abstract

18 pages, 1803 KiB

Open AccessArticle

Knowledge Management for Open Innovation: Bayesian Networks through Machine Learning

by Antonia Terán-Bustamante, Antonieta Martínez-Velasco and Griselda Dávila-Aragón

J. Open Innov. Technol. Mark. Complex. 2021, 7(1), 40; https://doi.org/10.3390/joitmc7010040 - 21 Jan 2021

Cited by 11 | Viewed by 4038

Abstract

Knowledge management within organizations allows to support a global business strategy and represents a systemic and organized attempt to use knowledge within an organization to improve its performance. The objective of this research is to study and analyze knowledge management through Bayesian networks with machine learning techniques, for which a model is made to identify and quantify the various factors that affect the correct management of knowledge in an organization, allowing you to generate value. As a case study, a technology-based services company in Mexico City is analyzed. The evidence found shows the optimal and non-optimal management of knowledge management, and its various factors, through the causality of the variables, allowing us to more adequately capture the interrelationship to manage it. The results show that the most relevant factors for having adequate knowledge management are information management, relational capital, intellectual capital, quality and risk management, and technology assimilation. Full article

(This article belongs to the Special Issue Business Model Innovation)

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19 pages, 2231 KiB

Open AccessArticle

Personnel Management Digital Model Based on the Social Profiles’ Analysis

by Sergey Barykin, Olga Kalinina, Igor Aleksandrov, Evgenii Konnikov, Vladimir Yadikin and Mikhail Draganov

J. Open Innov. Technol. Mark. Complex. 2020, 6(4), 152; https://doi.org/10.3390/joitmc6040152 - 16 Nov 2020

Cited by 20 | Viewed by 3022

Abstract

This paper examines a new approach to defining the task of personnel management in the digital age, taking into account the fundamental changes in internal communications stemming from an increasing use of digital platforms such as intranet, blogs, bulletin boards, instant messaging, and social networking sites. Personnel social media presence plays internal communication roles and thus relates to technologies of social profile analysis regarding employee interaction within the digital economy. The research aims at examining the task of personnel management based on data deriving from social media, for instance social networking sites and other social media tools, with the development of a relevant model for personnel management assessment. It could be shown that communication becomes one of the important aspects of personnel management, which consists of, i.e., human resources planning, recruitment, onboarding, assessment of individual work effects, as well as staff training, rewarding and motivating employees. Effective communication is a prerequisite for carrying out the above-mentioned tasks and performing work effectively. This means that the digital management of personnel can be viewed as a complex task, assuming that organizations operate less by using any formal connections and more by instilling in employees such feelings as feeling inspired, technologically advanced, and proud (on the basis of social media analytics). This paper presents theoretical foundations for developing a model for personnel management with consideration of the distinct employee features based on social media data and included in the assessment process. This allows the same approaches to be used for future research and modeling for assessing team effectiveness. In this paper, a methodological and instrumental solution to the current problem of creating the most effective work team in a digital ecosystem is proposed. The tools proposed to make it possible to create the most potentially effective work team based on the automated processing of natural information contained online on social profiles of potential members of the work team. At the same time, the level of communication compatibility acts as the criterion for the potential effectiveness of the work team. This is an innovative solution for the existing method of managing personnel. Full article

(This article belongs to the Special Issue Business Model Innovation)

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14 pages, 1262 KiB

Open AccessArticle

The Role of Value Innovation Capabilities in the Influence of Market Orientation and Social Capital to Improving the Performance of Central Kalimantan Bank in Indonesia

by Usup Riassy Christa, I Made Wardana, Christantius Dwiatmadja and Vivy Kristinae

J. Open Innov. Technol. Mark. Complex. 2020, 6(4), 140; https://doi.org/10.3390/joitmc6040140 - 11 Nov 2020

Cited by 7 | Viewed by 2928

Abstract

Research in the field of banking business management during a pandemic requires the cooperation of organizations with the changing business environment. Resources that are able to be managed effectively and efficiently at the Central Kalimantan Regional Bank in Indonesia are thus managed in an effort to support the organization. The key to the bank’s performance as an innovative organization lies in the core business values that are strengthened by organizational resources, so that the focus of value innovation becomes the activities that improve business performance as a mediating factor between external and internal factors. Research was conducted on 250 senior employees with quantitative analysis using the Structural Equation Modelling-Partial Least Square (SEM-PLS) statistical tool. It was found that external factors originating from market orientation and social capital significantly improved business performance. The success of the mediation process as a novelty research conceptual research has significant positive results as a core business innovation to improve the business performance of Central Kalimantan regional banks. The research objective is to improve banking performance by collaborating between consumer needs, value innovation and social capital as a trigger for excellent change in Bank Kal-Teng. The value of this research is as a reference for innovating capability value as the main business strategy using information from external factors, so as to improve the bank’s business performance as needed. Full article

(This article belongs to the Special Issue Business Model Innovation)

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15 pages, 569 KiB

Open AccessArticle

The Impact of Social Servicescape Factors on Customers’ Satisfaction and Repurchase Intentions in Mid-Range Restaurants in Baltic States

by Mangirdas Morkunas and Elzė Rudienė

J. Open Innov. Technol. Mark. Complex. 2020, 6(3), 77; https://doi.org/10.3390/joitmc6030077 - 07 Sep 2020

Cited by 7 | Viewed by 5244

Abstract

The present paper studies the importance of social servicescape factors to customer satisfaction in middle-priced restaurant services. This paper fills the existing literature gap on the importance of social servicescape factors onto customers’ satisfaction in middle-priced services. A survey of 514 respondents from three capitals of the Baltic States was conducted for the purpose of the present study. Descriptive statistics together with an independent samples t-test and partial least squares path analysis were employed for data processing. The results obtained confirmed the hypothesis about the importance of social servicescape attributes to customer satisfaction. The study also highlighted the difference in gender attitudes towards intangible aspects of service delivery. The research confirmed the existence of a relationship between customer satisfaction and repurchase intentions, although to a lesser extent than could have been anticipated from the literature review. The findings of the study covered by the present paper allow us to position middle-priced restaurants closer to luxury ones compared to casual restaurants Full article

(This article belongs to the Special Issue Business Model Innovation)

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15 pages, 601 KiB

Open AccessArticle

How to Innovate the Service Design of Leisure Farms: The Innovation of Sustainable Business Models

by Mengyi Lin, Fu-Yuan Li and Zhe Ji

J. Open Innov. Technol. Mark. Complex. 2020, 6(3), 45; https://doi.org/10.3390/joitmc6030045 - 29 Jun 2020

Cited by 9 | Viewed by 5441

Abstract

There is extensive academic literature about service satisfaction, business performance analysis, and management research of leisure farms, but there are still many problems and room for development on how to create customer journey maps for diversified leisure farms and also on service innovation opportunities. Leisure agricultural tourism is now facing diversified business challenges, and thoughts on service design as well as methods and tools contribute to the innovation of sustainable business models. By exploring customers’ touchpoints on leisure farms and their core motivations to visit the farm, this paper proposes a method to integrate the application of target tools of touchpoints into the customer journey map and shows the service design framework of leisure farms’ management and organization. Finally, this paper puts forward five key requirements on touchpoints in leisure farms’ service innovation, so as to achieve reasonable resource deployment of marketing mix and promote the sustainable development of leisure farms. Full article

(This article belongs to the Special Issue Business Model Innovation)

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13 pages, 707 KiB

Open AccessArticle

Artificial Intelligence Modelling Framework for Financial Automated Advising in the Copper Market

by Mariano Méndez-Suárez, Francisco García-Fernández and Fernando Gallardo

J. Open Innov. Technol. Mark. Complex. 2019, 5(4), 81; https://doi.org/10.3390/joitmc5040081 - 09 Oct 2019

Cited by 15 | Viewed by 4100

Abstract

Financial innovation by means of Fintech firms is one of the more disruptive business model innovations from the latest years. Specifically, in the financial advisor sector, worldwide assets under management of artificial intelligence (AI)-based investment firms, or robo-advisors, currently amount to US$975.5 B. Since 2008, robo-advisors have evolved from passive advising to active data-driven investment management, requiring AI models capable of predicting financial asset prices on time to switch positions. In this research, an artificial neural network modelling framework is specifically designed to be used as an active data-driven robo-advisor due to its ability to forecast with today’s copper prices five days ahead of changes in prices using input data that can be fed automatically in the model. The model, tested using data of the two periods with a higher volatility of the returns of the recent history of copper prices (May 2006 to September 2008 and September 2008 to September 2010) showed that the method is capable of predicting in-sample and out-of-sample prices and consequently changes in prices with high levels of accuracy. Additionally, with a 24-day window of out-of-sample data, a trading simulation exercise was performed, consisting of staying long if the model predicts a rise in price or switching to a short position if the model predicts a decrease in price, and comparing the results with the passive strategies, buy and hold or sell and hold. The results obtained seem promising in terms of both statistical and trading metrics. Our contribution is twofold: 1) we propose a set of input variables based on financial theory that can be collected and fed automatically by the algorithm. 2) We generate predictions five days in advance that can be used to reposition the portfolio in active investment strategies. Full article

(This article belongs to the Special Issue Business Model Innovation)

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15 pages, 5041 KiB

Open AccessArticle

Problem-Solving Design-Platform Model Based on the Methodological Distinctiveness of Service Design

by Youngok Jeon

J. Open Innov. Technol. Mark. Complex. 2019, 5(4), 78; https://doi.org/10.3390/joitmc5040078 - 05 Oct 2019

Cited by 8 | Viewed by 4533

Abstract

This study explores the differentiated properties of service design in the context of the final value pursued by this methodology, avoiding the interpretation of pending issues to which service design is applied. First, the following were identified as the core properties of service design, differentiated from other design methodologies: “Design Thinking”, a creative problem-solving process; “User Experience Value”, the pursued goal; “Participatory Design”, a practical research methodology; and “Interaction between Users and Providers”, the core research scope of pending issues. Second, the study proposed a six-step service design process model based on the interrelationships between these properties. The “problem recognition” step identified a decline in the quality of user experiences and forms a self-awareness of dissatisfaction. Next, the “problem understanding” step conducts multidisciplinary cooperative research on dissatisfaction. Subsequently, the “problem deduction” step determines users’ unsatisfied desires through visualization of the core pending issues, and the “problem definition” step performs creative conception activities with problem-solving approaches for the unsatisfied desires. Further, the “problem-solving” step develops service design models, and finally, the “problem-solving strategy check” step confirms the utility of the models in a real-world application. Full article

(This article belongs to the Special Issue Business Model Innovation)

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13 pages, 1072 KiB

Open AccessArticle

Emerging Technology and Business Model Innovation: The Case of Artificial Intelligence

by Jaehun Lee, Taewon Suh, Daniel Roy and Melissa Baucus

J. Open Innov. Technol. Mark. Complex. 2019, 5(3), 44; https://doi.org/10.3390/joitmc5030044 - 22 Jul 2019

Cited by 85 | Viewed by 35063

Abstract

Artificial intelligence (AI) has been altering industries as evidenced by Airbnb, Uber and other companies that have embraced its use to implement innovative new business models. Yet we may not fully understand how this emerging and rapidly advancing technology influences business model innovation. While many companies are being made vulnerable to new competitors equipped with AI technology, this study attempts to focus on the proactive side of the use of AI technology to drive business model innovation. Describing AI technology as the catalyst of business model innovation, this study sheds light on contingent factors shaping business model innovation initiated by the emerging technology. This study first provides a brief overview of AI, current issues being tackled in developing AI and explains how it transforms business models. Our case study of two companies that innovated their business models using AI shows its potential impact. We also discuss how executives can create an innovative AI-based culture, which rephrases the process of AI-based business model innovation. Companies that successfully capitalize on AI can create disruptive innovation through their new business models and processes, enabling them to potentially transform the global competitive landscape. Full article

(This article belongs to the Special Issue Business Model Innovation)

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16 pages, 1108 KiB

Open AccessArticle

The Role of Dynamic Capabilities as Drivers of Business Model Innovation in Mergers and Acquisitions of Technology-Advanced Firms

by Andrejs Čirjevskis

J. Open Innov. Technol. Mark. Complex. 2019, 5(1), 12; https://doi.org/10.3390/joitmc5010012 - 04 Mar 2019

Cited by 31 | Viewed by 14425

Abstract

Despite the widespread agreement on the importance of dynamic capabilities to the success of mergers and acquisitions, little is known about how these capabilities may contribute to the business model’s innovation of an acquirer. The purpose of the paper is to clarify the role of dynamic capabilities in business model innovation of acquirer’s company in mergers and acquisitions of technology-advanced firms. Empirically, the author examined the role of dynamic capabilities in the transformation of operationalized components of the business model of the two acquirers (Samsung and Microsoft) by means of the acquisition of technology-advanced firms (Harman and LinkedIn) in 2016. Drawing on extensive qualitative data, the author developed a practice-driven model as a practical guide for scholars who have been studying dynamic capabilities and business models, as well as for those who are new to the field. The resulting model advances the discourse on dynamic capabilities. The presented conceptual model encourages practitioners to grasp an exact relationship between the micro-foundations of each perspective. Overall, the paper deepens the conversation at the nexus of dynamic capabilities and business model innovation in pursuing a new customer value proposition in the merger and acquisition processes and thereby exploiting a competitive advantage. Full article

(This article belongs to the Special Issue Business Model Innovation)

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20 pages, 549 KiB

Open AccessArticle

A Model and Empirical Study on the User’s Continuance Intention in Online China Brand Communities Based on Customer-Perceived Benefits

by Min Han, Jiacong Wu, Yu Wang and Mingying Hong

J. Open Innov. Technol. Mark. Complex. 2018, 4(4), 46; https://doi.org/10.3390/joitmc4040046 - 27 Sep 2018

Cited by 24 | Viewed by 5200

Abstract

Many Chinese companies have recently joined a trend to build their own online brand community, which is good for their corporate strategy and even for innovation, but with a high failure rate due to the low continuance intentions of users. In addition, related research is rare, especially for studies on the relationships between customer-perceived benefits, satisfaction, and the continuance intention of users. The objective of this study was to examine the existing relationships between three constructs: customer-perceived benefits, satisfaction, and user’s continuance intention, in the context of Chinese online brand communities from the perspective of the process. An online questionnaire surveyed 153 online brand community users to understand the relationship between customer-perceived benefits, customer satisfaction, and user’s continuance intention. The data analysis shows that customer-perceived benefits as an antecedent variable have an important influence on the satisfaction and continuance intention of users. Customer satisfaction as a mediator variable also makes a significant positive impact on the user’s continuance intention. At a practical level, the result provides further insight into online brand community operation strategies, and provides managers with new ideas and suggestions for business innovation models. Full article

(This article belongs to the Special Issue Business Model Innovation)

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